KIRKLAND LAKE, Ontario – Kirkland Lake Gold has closed the $7.5-million flow through share offering first announced last month. The company issued 1.92 million common shares at a price of $3.90 per share.
Kirkland Lake Gold intends to use the net proceeds of the offering to advance its surface exploration program. In 2013 the company completed 40,750 metres of surface exploration drilling. An estimate of mineralization above the 305-metre depth now includes 281,170 indicated tonnes grading 11.66 g/t Au and containing 104,000 oz of gold. The resource also contains 118,817 inferred tonnes grading 12.34 g/t Au and containing 48,000 oz of gold.
Please visit the Kirkland Lake Gold website at KLGold.com.